Bitcoin fluctuated around 30,000 for 3 days, but did not rebound to above 30,600 as expected.
If there is still no upward rebound between tonight and tomorrow morning, it is possible to break directly downward. Therefore, we need to pay attention to the downside risk. From a structural point of view, we should expect a 1-hour level rebound. In the short term, the market changes quickly. Therefore, the video can only predict the market changes at the time of release. Short-term players should pay attention to the latest market changes. This is for reference only.
According to our expectation on the 1-hour chart, if Bitcoin does not fall below 29,500, there should be a 1-hour rebound to above 30,600, and then a third 1-hour decline. However, Bitcoin has not rebounded yet, so there is a possibility of a direct downward break. If there is no 1-hour rebound, it is likely to break directly to around 28,500, and then consolidate around 28,500 to build a center, and extend to around 27,500.
On the 15-minute chart, the expected rebound has not yet appeared, which makes people feel uncomfortable. We can observe whether the big cake can break through 30150 in the evening. If it can break through, there is still a possibility of a 1-hour level rebound. However, if it fails to break through 30230 and falls below 29500, it may continue to fall. It should be noted that if it falls below 29500, do not chase the short immediately. Be careful of the sudden V rebound after the false break. The real break is that it cannot pull back above 29500 after the break.
